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Query on wealth tax commercial property

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(Querist)
03 September 2012 Dear All,

Whether Commercial Property not let out(Kept Idle) is liable for wealth tax?Does it fall in to the definition of Commercial Unit & gets exempted?

If so whether the same type of commercial property is subject to wealth tax in case of partnership firm

Kindly reply for the queries
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
03 September 2012 Commercial Property is not taxable under wealth tax whether it is let out or not.

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